Somerset Bank Salary

Somerset Bank Salary

How much does the Somerset Bank Pay for employees?

Salaries

Job Openings

Similar Company

Reviews

Overview

FAQ

Recommended HR Topics
Global Market Data Hot Insights on Your Competitors' PayNew Compensation Planning Hot Develop a Job Description Pay Equlity Benefits Consulting
As of August 2026, the average annual salary for employees at Somerset Bank in the United States is $93,540. This translates to an approximate hourly wage of $45. Salaries at Somerset Bank typically range from $81,995 to $106,099 annually, reflecting the diverse roles and experience levels within the company. Somerset Bank’s salaries are influenced by a wide range of factors including job role, department, years of experience, and location.
DISCLAIMER: The salary range presented here is an estimation that has been derived from our proprietary algorithm. It should be noted that this range does not originate from the company's factual payroll records or survey data.
How accurate does the salary look to you?

Current Job Openings at Somerset Bank

Ready for your next career move? Explore current job openings at Somerset Bank. Use the search tool below to find available positions by title and location and apply directly to start your career.

Is Somerset Bank’s Pay Competitive? Salary Benchmarking Analysis

How does Somerset Bank’s compensation stack up against the market? This analysis visualizes their annual average salary compared to its industry benchmark and key peer companies.
Peer Company & Industry Benchmarking
180k
150k
120k
90k
60k
30k
0
Average Salary ($/year)
Somerset Bank
Financial Services
Towne Bank - Moyock
5Star Bank
Industry Comparison
Our data shows that, on average, compensation at Somerset Bank is below the average for the U.S. Financial Services industry by approximately 23%. This positioning suggests their pay is below the market average within their sector.
Peer Company Comparison
To provide a broader market perspective, we compared Somerset Bank average annual salary with several similar companies. Somerset Bank average salary of $93,540 is higher than Towne Bank - Moyock, which has an average salary of $89,753. It is higher than 5Star Bank, with their average salary at $90,354. This places Somerset Bank in a competitive position among its peers.
See Your True Competitors
The companies behind the question marks could be hiring your best people. Don't operate with incomplete data. Unlock your full competitive view with Salary.com for Business to precisely benchmark salaries, benefits, and more against your true competitors.

How Somerset Bank's Salaries Compare to Similar Companies?

Explore companies in the same industry to compare average salaries, benefits, and career opportunities with those at Somerset Bank. Click a company name to learn more.

Employee Reviews: Working at Somerset Bank

Considering a career at Somerset Bank? Explore authentic employee reviews to learn about the work environment, career growth opportunities, pay transparency and benefits. These first-hand insights can help you set realistic compensation expectations and make informed career decisions.
Supportive leadership fosters growth and rewards performance consistently. A solid company with strong systems in place. Problem-solving approaches are collaborative. This constructive mindset makes tough situations manageable.
Commented in February 15, 2025
19
0
Career advancement is often with a preference for seniority. This organization provides a structured yet flexible working model. Supportive leadership and clear communication foster a collaborative work environment. Newsletters highlight meaningful updates. We’re encouraged to contribute ideas, and our efforts are acknowledged. Even with employees, there’s a strong sense of alignment, and executiv...
Commented in September 06, 2024
23
3
I’ve grown a lot here and feel that leadership truly invests in people. The company provides stable employment and standard benefits, but workloads can be demanding, especially during peak periods. Training programs exist but vary in quality by team. Career growth exists but usually depends on seniority rather than performance.
Commented in January 18, 2024
13
0

Somerset Bank Overview

Website
Data pending, update soon.
Founded In
Data pending, update soon.
Employees
50 - 100 employees
Industry
Financial Services
Headquarter Address
4407 Bland Rd Raleigh North Carolina NC 27609
Revenue
$10 Million - $50 Million
Phone Number
+1 9197902741
Social Media
About Somerset Bank
Somerset Bank is a company that operates in the Financial Services industry. It employs 51-100 people and has $25M-$50M of revenue. The company is headquartered in Raleigh, North Carolina.

What Benefits Does Somerset Bank Offer Beyond Salary?

A competitive compensation package is more than just a salary. Somerset Bank offers a comprehensive benefits package designed to support your health, financial future, and overall well-being. Below are the most common key benefits:
Social Security
401(K)
Disability
Healthcare
Pension
Time Off (days)
Work at Somerset Bank?
Share your experience
How Much Should You Be Earning?

Get an estimated calculation of how much you should be earning and insight into your career options.

Get estimated pay range See more details
illustration

What Is the Cost of Living Near Raleigh?

Understanding the cost of living near Raleigh is key to truly evaluating a salary offer or your current compensation at Somerset Bank.
Raleigh's Cost of Living Index is approximately 102.3 (2.3% more expensive than US average; 6.6% more than NC average). State capital, Research Triangle Park, tech hub, housing above US avg. GoRaleigh/GoTriangle. When planning your budget based on a salary from Somerset Bank, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $1,400 - $2,100+ A significant portion of Somerset Bank salary. Location choices impact this heavily.
Utilities (Basic) $140 - $230 Electricity, Heating, Cooling, Water etc.
Public Transportation $70 (GoRaleigh monthly pass) Essential for most commuters; car ownership is costly.
Groceries (Single Person) $410 - $600 Can be higher with more dining out or specialty stores.
Personal & Leisure $430 - $780+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $380 - $700+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $2,830 - $4,410+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of Somerset Bank

1. How much does a Somerset Bank employee make?

Somerset Bank pays its employees an average of $93,540 per year. The average salary at Somerset Bank range from $81,995 to $106,099 per year. It's important to remember that these are overall averages, actual salaries vary significantly based on specific job titles, years of experience, skills, and location.

2. Which similar company tend to pay more or less than Somerset Bank?

The salary at Somerset Bank is higher than the similar company. The average annual salary at Somerset Bank is $93,540, or an hourly wage of $45, in comparison to Towne Bank - Moyock which pays $89,753 per year or $43 per hour.

3. Do employees with advanced degrees (Master's, PhD) earn more at Somerset Bank?

In many roles at Somerset Bank, particularly those requiring specialized knowledge or research capabilities (e.g., certain engineering, scientific, or financial roles), an advanced degree like a Master's or PhD can lead to a higher starting salary and faster career progression, thus higher earnings. However, for some roles, direct experience and skills might be valued as much or more than an advanced degree. The impact varies by field and specific job requirements.

4. How does the cost of living near Raleigh affect the perceived value of a Somerset Bank salary?

Raleigh's Cost of Living Index is approximately 102.3 (2.3% more expensive than US average; 6.6% more than NC average). This significantly impacts the purchasing power of a salary from Somerset Bank based there. Our "Cost of Living Insights for Raleigh" module details this impact, helping you assess the 'real feel' value of your compensation.

5. What kind of benefits does Somerset Bank typically offer employees?

Somerset Bank generally offers a range of employee benefits designed to support their workforce's health, financial well-being, and work-life balance. Comprehensive health insurance (medical, dental, vision), a 401(k) retirement savings plan (often with a company match), paid time off (PTO), and potentially disability and life insurance are included. For a more detailed list of benefits, please see our "Employee Benefits at Somerset Bank" section on this page.

For Employer

What Should I Pay?

The trusted data and intuitive software your organization needs to get pay right.

Explore CompAnalyst ®
Looking for Accurate Salary Data?

Enhance your organization's compensation strategy with salary data sets that HR and team managers can use to pay your staff right.

Surveys & Data Sets
Unlock Intelligence on Your Competitors' Salaries Across 35 Countries

Real-time global intelligence that empowers you to make competitive pay decisions and align offers with global trends.

SalaryIQTM
The Only Compensation System That Helps You EXCEL.

If your compensation planning software is too rigid to deploy winning incentive strategies, it’s time to find an adaptable solution.

Compensation Planning